These tax credit enhancements include the extension of the Interactive Digital Media tax credit (IDMTC) to 2018 and effective March 1, 2015, the present Digital Animation or Visual Effects (DAVE) tax credit will be expanded to include post-production work, such as sound and editing.
“These announcements represent an investment in our economic future,” said Michael Francis, Chair of Creative BC. “They will ensure that our graduates will be able to work in British Columbia and prosper as the industry continues to grow,” he added.
“Tax credit incentives play a vital role in supporting our creative industries to compete with jurisdictions around the world,” said Richard Brownsey, President and CEO of Creative BC. “The inclusion of post-production work into the existing DAVE tax credit will encourage domestic and international producers to complete their projects in BC and facilitate more post-production companies to establish operations in the province.”
BC is the largest motion picture production centre serving international productions as well as BC-based companies creating original content for the world market. The province is also a world-class centre for visual effects, digital animation and video game production.
Creative BC is a non-profit agency created by the Province of BC in April 2013 to strengthen BC’s creative sector which includes the film, television, digital media, music, magazine and book publishing industries. The agency provides a range of programs and services to support the creative industries, including administration of the provincial Film Incentive BC, Production Services and DAVE tax credit programs.